HFR Wealth Management LLC Has $9.44 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

HFR Wealth Management LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,353 shares of the utilities provider’s stock after purchasing an additional 411 shares during the period. WEC Energy Group comprises about 2.3% of HFR Wealth Management LLC’s portfolio, making the stock its 24th largest position. HFR Wealth Management LLC’s holdings in WEC Energy Group were worth $9,437,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Coastline Trust Co acquired a new stake in WEC Energy Group in the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in shares of WEC Energy Group during the third quarter worth $45,000. Human Investing LLC bought a new stake in shares of WEC Energy Group during the fourth quarter worth $52,000. Bank of Jackson Hole Trust bought a new stake in shares of WEC Energy Group during the fourth quarter worth $59,000. Finally, Kestra Investment Management LLC bought a new stake in shares of WEC Energy Group during the fourth quarter worth $61,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 1.6 %

WEC Energy Group stock opened at $108.39 on Tuesday. The company has a market cap of $34.44 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $108.43. The company has a fifty day simple moving average of $99.21 and a 200 day simple moving average of $97.17. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 EPS. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, February 14th. WEC Energy Group’s dividend payout ratio is currently 73.91%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WEC. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. KeyCorp increased their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.88.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.